- Specialist lender rolls out larger loan proposition to wider market following successful pilot
- Rates start at 0.58% for Prime, 0.73% for Standard
- Attractive 1.5% commission
Specialist lender Masthaven has today announced the roll-out of its Bridging Plus short-term lending product to the wider market, following a successful soft launch with key brokers.
The bank’s larger-loan proposition was launched in February for Premier Partners and generated a positive uptake and excellent feedback from brokers.
Now Masthaven is making Bridging Plus, nominated for Specialist Product of the Year at the Bridging & Commercial Awards 2018, available to all intermediaries so they can benefit from competitive rates, an attractive commission and access to an experienced team of underwriters.
|About Bridging Plus
- Loans from £750,000 up to £5 million
- Commission 1.5%, up from 1%
- Rates start at 0.58% for Prime Bridging Plus, 0.73% for Standard Bridging Plus
- Supported by award-winning underwriting team
Bridging Plus was launched to meet broker appetite for larger loan values and brought a number of notable successes, including the first completion just weeks after launch.
James Bloom, Masthaven’s Managing Director of Short Term Lending, said launching Bridging Plus with the bank’s principal partners was an effective way to test the strength of the product ahead of a full roll-out.
“Today we’re launching Bridging Plus to the wider market and we are fully confident that we have the systems, knowledge and resources in place to manage demand,” he said.
“Launching the product with our key brokers a few months ago helped us pilot the product and we gained invaluable experience by working on some sophisticated cases that really tested us.
“Brokers considering Bridging Plus can do so in the full knowledge we’re confident it’ll be a success. Bridging Plus is just one example of Masthaven’s appetite for innovative products that meet real need, providing fast, flexible finance driven by intelligent underwriting.”
Commenting on the news, Kit Thompson, Director of Short Term Lending and Development at Brightstar, said: “As one of the first partners to use Bridging Plus, we’re delighted to now see it extended to the rest of the market.
“Our experience of the proposition has been testament to Masthaven’s people-first philosophy, striving to offer real products that meet genuine need.
“We’re sure other brokers will find Bridging Plus an essential addition to their product suite.